Instagram Revenue and Usage Statistics (2024)

Instagram, a social media platform launched in 2010, has evolved into a vibrant online community where users share moments, stories, and visuals through photos and videos. Acquired by Facebook for $1 billion in 2012, Instagram stands out with its emphasis on visual storytelling, providing a space for creative expression and connection. Users can follow friends, influencers, and brands, engaging through likes, comments, and direct messages. The platform’s dynamic features include Stories, IGTV, and Reels, fostering diverse content creation. Instagram has become a cultural hub, reflecting trends, lifestyles, and personal narratives, making it a global favorite for capturing and sharing the essence of daily life.

• Launch Date: October 6, 2010
• Parent Company: Meta Platforms, Inc.

Instagram Usage Statistics (2024)

• In 2023, Instagram secured the title of the most downloaded app with an impressive 696 million downloads. This marked a noteworthy shift, as TikTok, which had held the top spot for the three preceding years, trailed behind with 654 million downloads. The year witnessed a significant surge in Instagram’s popularity, showcasing its continued influence in the realm of mobile apps.
• Instagram was the second most downloaded app worldwide across the App Store and Google Play in 2022, with 548 million new installs.
• As of July 2023, Instagram’s official account is the most popular account on Instagram with more than 648 million followers, followed by Cristiano Ronaldo with more than 595 million followers.

• There are nearly 2.2 billion active Instagram users as of the fourth quarter of 2023.

• 63% of Instagram users, around six-in-ten users, visit their Instagram account daily. (Pew Research Center)
• When we look at Instagram usage by country, India ranked #1 among the leading countries on Instagram audience size as of January 2024, with more than 360 million users.

• More than 130 million Instagram users engage with a shopping post every month. (Instagram)
• More than 50% of Instagram accounts visit the Explore (or Discover) tab in the app each month. (Facebook)
• As of January 2023, 17% of worldwide active Instagram users were men between the ages of 18 and 24 years. More than half of the Instagram population worldwide is aged 34 years or younger.

• The like button of Instagram is hit an average of 4.2 billion times daily. (Wired)
• The most liked photo on Instagram is a photo of an egg, with more than 55.1 million likes. (Instagram)
• An average user spent more than 11 hours on Instagram per month.
• In an average one minute on Internet, 695,000 stories are shared on Instagram.
• Instagram was the fourth most popular social network in the number of active users as of January 2022, with over 1.48 billion MAUs. (Statista) 
• Instagram’s IGTV app was downloaded 7 million times from its launch to January 2020. (Techcrunch)

Also read: Facebook Revenue and Usage Statistics

Instagram Revenue Statistics (2024)

• Instagram is poised for a swifter recovery compared to its social media counterparts in the aftermath of Apple’s App Tracking Transparency (ATT) and a broader decline in the digital advertising market. Projections indicate that Instagram’s resurgence will propel it to a substantial $71 billion valuation by the year 2024. This optimistic outlook reflects the platform’s resilience and strategic positioning amid evolving market dynamics. (WARC)

• In 2023, Meta Platforms derived 44% of its revenue from Instagram, signaling a substantial contribution from the photo-sharing platform. Projections suggest that Instagram is poised to outpace Facebook and become Meta’s primary revenue source by the year 2025.

• Annual Instagram ad revenue in the United States in 2020 was $17.4 billion and is expected to reach $40 billion in 2023. 

• Instagram brought $20 billion in ad revenue in 2019.(Bloomberg)
• Instagram ad revenue accounted for 36.5% of Facebook’s ad revenue in the United States in 2020 and it will reach 39.7% in 2021. (Statista)
• The approximate Instagram revenue per user per year is $11.60. (Buildfire)

Frequently asked questions about Instagram

What is Instagram?

Instagram is one of the most popular social media apps in the world that allows users to share photos and videos for free. Available on iOS or Android devices, Instagram users simply upload photos and videos to the app and share it with their followers or with a selected group of people. 

After uploading a photo or video to Instagram, the visual content platform enables users to choose filters and edit an image before publishing. 

While users can post videos and photos they want to appear permanently on their profiles, they can also make posts that disappear after 24 hours using the Instagram Stories feature. Users can add different types of stickers to their Instagram stories including hashtag, location, GIF, countdown, poll, time, temperature, @mention, question, chat, music, and quiz. 

In order to keep stories more than 24 hours, users can also use Stories Highlights, that appears on a user’s profile at the top. If you want to add an old story that you previously shared, you can find it in the stories archive and reshare it. 

If you want to make a story only visible to you, you can choose the related privacy option before sharing a story. There is also a close friend list option in Instagram that you can create to share your stories only with. To add people to the list, you can tap on the “Close Friends” in the side menu. 

Hashtags are frequently used by brands, influencers and individuals to increase the reach of a post on Instagram, especially to increase the number of followers and interactions. There are a lot of popular hashtags preferred by users to increase reach including #photooftheday, #instagood, #love, and #happy. #tbt is one of the most popular hashtags that means Throwback Thursday. It is attributed to any nostalgia-including photo that reflects a positive moment from the past. 

What does dt mean on instagram?

DT means “dedicated to” and it is used when someone dedicates an Instagram edit to another person. The term is sometimes used to mean “double tap” and it is used to ask people to double tap to like a photo. 

What does IG mean in texting? 

IG is the abbreviation for Instagram. It may also mean “I guess” but it is mostly used to say Instagram in short. 

What is shadowbanned?

Shadowbanning on Instagram means getting a user’s content banned on Instagram without the user’s knowledge. If you are shadowbanned on Instagram, your posts won’t be able to appear on people’s feed if they are not following you. 

In order to understand if you are shadowbanned or not, you can share a post by using a highly popular hashtag and ask a couple of people who don’t follow you to search this hashtag. If any of them can’t see your post in the hashtag, this is very likely means your account is shadowbanned. 

You might be shadowbanned because of using bots, getting reported by other users, or using broken hashtags. In order to fix an shadowbanned account, you should avoid those and take a 48-hour break from using your account.  

What happens when you unblock someone on Instagram?

When you unblock someone on Instagram, this person can now find you, send you a direct message and see your post and stories. However they cannot automatically follow you after you unblock them so they should start following you after you remove blocking. 

When you block someone, their likes and comments are removed and after unblocking those likes and comments are not restored. 

What does it mean to be verified on Instagram?

Being verified on Instagram means being confirmed by Instagram as a public figure or a well-known brand. Instagram gives a verified badge to verified accounts, shown as a check that appears next to an Instagram account’s name in search and on the profile.

Instagram doesn’t ask for a payment to verify an account and it can remove a verified badge from an account if the account doesn’t comply with its rules and guidelines. 

What is DMing on Instagram?

DM means Direct Message on Instagram and it is used to start a conversation. Via DM, you can send photos, videos, or text messages to one or more people at a time. In order to send a DM:

• Tap in the top right or swipe left from anywhere in Feed.
• Tap in the top right.
• Select people you’d like to send a message to, then tap Chat.
• Type a message. You can also tap to take and send a disappearing photo or video, or to select a photo or video from your library.

What is IGTV?

IGTV, also known as Instagram TV, was Instagram’s free to use app for long form Instagram videos. Instagram was only allowing to upload videos of 60 seconds long, while IGTV was allowing uploading videos for up to 1 hour. 

However, as of March 2022, Instagram shut down the standalone IGTV app.